Home / Knowledge / News / Apparel/Garments / Ross Stores Q3 FY'13 sales up 6%
Ross Stores Q3 FY'13 sales up 6%
22
Nov '13
Ross Stores, Inc. reported earnings per share for the 13 weeks ended November 2, 2013 of $.80, up from $.72 for the 13 weeks ended October 27, 2012.  These results reflect an 11% increase on top of a 14% gain in the third quarter of 2012. 

Net earnings for the third quarter ended November 2, 2013 were $171.6 million, up from $159.5 million for the third quarter ended October 27, 2012.  Fiscal 2013 third quarter sales increased 6% to $2.398 billion, with comparable store sales up 2% on top of a 6% gain in the prior year. 

For the nine months ended November 2, 2013, earnings per share were $2.86, up from $2.46 for the nine months ended October 27, 2012.  These results represent 16% growth versus 22% for the first nine months of 2012. 

Net earnings for the 2013 year-to-date period grew to $619.4 million, up from $550.2 million in the prior year.  Sales for the first nine months of 2013 increased 8% to $7.489 billion, with comparable store sales up 3% on top of a 7% gain for the first nine months of 2012. 

Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "Third quarter sales were in line with our guidance, while earnings were better-than-expected mainly due to above-plan merchandise gross margin.  Operating margin of 11.3% was relatively flat to last year.  As a percent of sales, an improvement in cost of goods sold was offset by an increase in selling, general and administrative expenses."

Mr. Balmuth also noted, "We continued to enhance stockholder returns through our share repurchase and dividend programs in the third quarter.  During the first nine months of fiscal 2013, we repurchased 6.4 million shares of common stock for an aggregate price of

$421 million.  We expect to buy an additional $129 million during the fourth quarter, which puts us on track to complete about $550 million of the two-year $1.1 billion stock repurchase authorization announced at the beginning of this year."  

Ross Stores


Must ReadView All

Textiles | On 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search